David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Electronic Journal of Theoretical Physics (EJTP) 7 (24):57-78 (2010)
The paper discusses the possibility of constructing economic models using the methodology of model construction in classical mechanics. At the same time, unlike the "econophysical" approach, the properties of economic models are derived without involvement of any equivalent physical properties, but with account of the types of symmetry existing in the economic system. It has been shown that at this approach practically all known mechanical variables have their "economic twins". The variational principle is formulated on the basis of formal mathematical construction without involving the subjective factor common to the majority of models in economics. The dynamics of interaction of two companies has been studies in details, on the basis of which we can proceed to modeling of more complex and realistic economic systems. Prediction of the possibility of constructing economic theory on the basis of primary principles analogously to physics has been made.
|Keywords||econophysical variational principle primary principles|
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